China concept stocks ushered in a strong rebound. Some China concept stocks' financial reports far exceeded market expectations

After several rounds of losses, China Concept stocks saw a strong rebound last week. After Alibaba and Baidu rose more than 14% last Thursday, Pinduoduo and iQiyi rose more than 9%, Jingdong and Weibo rose more than 5%, Pinduoduo rose more than 15% last Friday, Didi rose more than 8%, and Baidu rose more than 2%. Industry insiders believe that Alibaba, Pinduoduo, Baidu and other companies' financial reports exceeded expectations and became catalysts for China Concept's massive counter attack.

In recent days, China Concept Stock has intensively released financial reports. According to the disclosed financial statements, some of the financial statements of China's stock market exceeded market expectations. For example, Alibaba's revenue and adjusted earnings per ADS far exceeded market expectations; Pinduoduo's revenue in the first quarter was 23.8 billion yuan, up 7% year on year, with a net profit of 2.6 billion yuan and a loss of 2.905 billion yuan in the same period last year; For the first time since its establishment, Ruixing Coffee's quarterly profit turned positive, Zhihu's revenue increased significantly compared with the same period last year, and iQiyi turned negative for the first time in 12 years.

Affected by multiple negative factors, since the peak in 2021, China Concept Stock has continued as a whole down In 2022, the performance will be even worse. However, some of China Concept's earnings exceeded expectations, triggering a strong rebound in China Concept's Internet leading stocks.

It is worth noting that some institutions have quietly increased their positions when China Concept stocks rebounded strongly.

In the 13F position report of the first quarter of 2022 disclosed in the middle of May, BlackRock mainly increased its position in China Concept Stock, the new force of car building, Ideal Auto and Weilai. After adding positions, the closing position market value of Ideal Auto reached 772 million dollars, while the position market value of Weilai reached 1.36 billion dollars.

Bridge water fund In the first quarter, it increased its holdings in several Chinese concept stocks, including Alibaba, Pinduoduo and Baidu. Among them, Alibaba added 75%, Pinduoduo added 85% and Baidu added 50%. JPMorgan's flagship China fund In March, it increased its position in JD by 12.54 times, and slightly increased its position in Tencent Holdings and Meituan.

HHLR, a subsidiary of Hillhouse, is also bullish on China Concept Internet and technology companies. In the first quarter, it added 8 China Concept stocks, including JD, Vipshop, Shell, Manbang, and Shengmei Semiconductor, with an increase of 76% and 147% respectively in JD and Vipshop.

China's consumption power under Fidelity International, an international asset management giant fund In March, it increased its holdings of 9 of its top 10 heavy positions. Among them, the targets of the key positions are Meituan, Jingdong, Tencent Holdings, etc.

Looking forward to the future, open source in Qianhai fund Yang Delong, Chief Economist, said that China Concept shares faced retaliation nature Rebound, most Chinese concept stocks rose more than 10%, institutions increased their holdings in the market and some Chinese concept stock financial reports exceeded expectations, which is expected to drive the recovery of the technology and Internet sector.

key word: China concept stocks rebounded strongly China Concept Stock Financial Report Negative factors China Internet Leading Stock